Pan American Silver (NASDAQ:PAAS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

A number of other equities research analysts have also weighed in on the company. ValuEngine lowered Pan American Silver from a buy rating to a hold rating in a research note on Friday, August 16th. TD Securities raised their price objective on Pan American Silver from $20.00 to $22.00 and gave the company a buy rating in a research note on Friday, August 9th. Finally, BidaskClub upgraded Pan American Silver from a hold rating to a buy rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Pan American Silver presently has a consensus rating of Hold and an average target price of $16.54.



PAAS stock opened at $17.45 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.98 and a current ratio of 4.08. Pan American Silver has a 1 year low of $10.26 and a 1 year high of $17.50. The firm has a market cap of $3.50 billion, a P/E ratio of 334.00, a price-to-earnings-growth ratio of 11.21 and a beta of 0.14. The stock has a 50-day simple moving average of $15.52 and a 200-day simple moving average of $13.40.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, August 7th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Pan American Silver had a positive return on equity of 0.56% and a negative net margin of 2.39%. The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $320.98 million. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities research analysts predict that Pan American Silver will post 0.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.062 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.25 dividend on an annualized basis and a yield of 1.42%. Pan American Silver’s dividend payout ratio (DPR) is presently 35.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in Pan American Silver by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 8,805,213 shares of the basic materials company’s stock valued at $113,678,000 after purchasing an additional 1,533,595 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Pan American Silver by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,495,778 shares of the basic materials company’s stock worth $70,950,000 after buying an additional 538,363 shares during the last quarter. Investec Asset Management LTD lifted its holdings in Pan American Silver by 22.8% during the 2nd quarter. Investec Asset Management LTD now owns 4,470,052 shares of the basic materials company’s stock worth $57,708,000 after buying an additional 829,417 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in Pan American Silver by 1.3% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 4,459,626 shares of the basic materials company’s stock worth $57,574,000 after buying an additional 58,100 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Pan American Silver by 15.6% during the 2nd quarter. Morgan Stanley now owns 3,902,979 shares of the basic materials company’s stock worth $50,387,000 after buying an additional 527,447 shares during the last quarter. Hedge funds and other institutional investors own 52.51% of the company’s stock.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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